Log In

 
Company : Standard Chartered Bank 
Thursday, November 10, 2005 5:34PM IST (12:04PM GMT)
 
Standard Chartered Wins Retail Banker International Award For Best Retail Bank In Asia Pacific
Mumbai, Maharashtra, India

Standard Chartered Bank has been named the Best Retail Bank in Asia Pacific for 2005 at the recent Retail Banker International Awards ceremony. This is Standard Chartered's second win in this category, having received the Award in 2003. In 2004, Standard Chartered Bank in Middle East was named the Best Retail Bank in that region by Retail Banker International.

Presented by VRL Publishing Ltd, the annual Retail Banker International Awards recognise excellence, innovation and achievements by banks around the world. Retail Banker International is a globally renowned retail banking newsletter published by VRL Publishing Ltd, which in 2004 acquired the Lafferty Group's newsletter and conference businesses. VRL Publishing Ltd delivers benchmark intelligence in worldwide professional and financial services.

The judging panel included consultants and analysts in retail financial services as well as representatives from Boston Consulting, Ernst & Young, Accenture, IBM Consulting, Edgar Dunn, Mercer Oliver Wyman and VRL Publishing.

In its citation, Retail Banker International said:

"Standard Chartered has confirmed its commitment to Asia, which accounts for almost 70 percent of its profits, with a string of deals in China, Korea, Indonesia, Hong Kong, Vietnam, Thailand and Bangladesh. Hong Kong, Singapore and India are its primary markets, accounting for 29.1 per cent, 11.7 per cent and 9 per cent of profit, respectively in 2004.

"It has made strong progress in integrating its largest ever acquisition – Korea First Bank, which it bought for KRW3.4 trillion (US$5.3 billion) in 2004. And with its purchase of a 19.9 per cent stake in Bohai Bank, it is well-positioned to participate in the opening-up of the Chinese Banking market in 2007. Standard Chartered is already the largest international bank in India, with a top five position in the major market segments."

Retail Banker International also paid tribute to the Bank's leadership in product innovation and focus on service improvement:

"The Bank excels in the area of product innovation and so far this year has launched 200 new consumer banking product variations across 15 markets. These range from small business loans in Pakistan to personal loans in Africa. It also excels in the area of customer segmentation and has introduced risk-based pricing in its major credit cards markets. It has enjoyed great success with its MortgageOne product, which accounted for 80 per cent of its new mortgage business in Malaysia in 2004.

The Bank has recently introduced a performance improvement methodology called Outserve, which has given rise to over 400 initiatives in 2005, aimed at improving performance in sales, risk, finance, middle office and operations."

Commenting on the award, Mike DeNoma, Standard Chartered's Group Executive Director with responsibility for Consumer Banking, said:

"This is a great endorsement of the consumer banking team at Standard Chartered. Our ambition is to be the best managed consumer bank in the world and to lead the way in Asia, Africa and the Middle East. We are competing in some of the fastest growing consumer banking markets in the world where the best managed consumer banking business is likely to evolve from. To achieve our ambition we will continue to focus on leading our markets in improving productivity, marketing impact and innovation and fitness for growth by developing management capabilities to be the best international bank in the world."

Note to editors:

Standard Chartered – leading the way in Asia, Africa and the Middle East

Standard Chartered is one of the world's most international banks, employing over 40,000 people, representing 80 nationalities, across its network. Standard Chartered operates in over 1,200 locations (including subsidiaries, associates and joint ventures) in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.

Standard Chartered PLC is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalisation.

It serves both Consumer and Wholesale Banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small to medium sized enterprises. Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, securities services, foreign exchange, debt capital markets and corporate finance.

Standard Chartered is well-established in growth markets and aims to be the right partner for its customers. The Bank combines deep local knowledge with global capability.

The Bank is trusted across its network for its standard of governance and corporate responsibility as well as its commitment to making a difference in the communities in which it operates.

 
For News Release background on Standard Chartered Bank click here
 
 
 
Submit your press release
More News from Standard Chartered Bank

04/04/2013 5:19PM

Standard Chartered Moves to Delhi for South Asia Golf Tournament

After a successful inaugural edition of Standard Chartered South Asia Golf Tournament played over two days at Aamby Valley Golf Resort, Lonavala and Oxford Golf and Country Club, Pune, the tournament will now move to ...

18/07/2005 2:46PM

Standard Chartered's Greatest Race On Earth Is Back!

The Greatest Race on Earth (GROE), sponsored by Standard Chartered Bank, is back for a second season with a stronger and faster field of elite runners from around the world. The inaugural 2004/05 season was an ...

27/05/2005 11:02AM

Standard Chartered Bank Says Thank You with 'Loyalty Week'

Understanding the importance of appreciating its customers, Standard Chartered Bank introduced Loyalty Week, a special theme week that will run until the end of May. The celebration will not only stress on the value ...

Similar News

20/04/2018 4:30PM

ABB: Profitable Growth

Total orders +6%1; up in all divisions Base orders +5%; up in all regions Revenues +1%; impacted by lower opening backlog Book-to-bill ratio2 at 1.13x Operational EBITA margin2 up 20bps to 12.3% Net income ...

No Image

18/04/2018 5:30PM Image

Angel Broking Revolutionizing Investments Through the Launch of ANGEL BEE

Empowering millennials to make the right investments to achieve their financial goals, Angel Broking introduced ‘ANGEL BEE’ a mobile application powered by ARQ that provides personalized smart investment solutions to ...